Invigor Group Ltd (ASX:IVO)
Invigor Group Limited (ASX:IVO) has had no shortage of good news lately. Barely a week has gone by without the company announcing another contract win.
IVO’s Condat business recently secured A$1.25 million in new contracts with German public broadcaster RBB and performance rights agency GVL.
It followed that up with two major contract wins for its Insights 360 (Retail) platform, from leading international winemaker, Accolade Wines (which produces the popular Australian brand ‘Hardys’) and globally recognised beverage company, Asahi Beverages.
A 33% quarterly increase in revenue-generating contracts for its market insights platform SpotLite, including customers across a range of sectors in Australia, New Zealand, the US, the UK and Norway, rounds out this recent growth and puts the company in a good position leading into 2018.
The company will also have money in the bank, following a recent capital raise that will bring in $732,000 with options equalling a potential total raise of $1.1 million.
Further, IVO has initiated a $600,000 cost reduction program.
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IVO has been busy beyond the sales pipeline and strengthening its balance sheet.
The sub $10 million capped company, has signed a deal with Microsoft which included the optimisation of Invigor Shopper Insights on Microsoft Azure for a key Australian retail customer. IVO is no stranger to working with big brands, having previously partnered with eBay and GoDaddy for the SpotLite platform.
IVO is also expanding its Skyware logistics offering into the Asia Pacific region, with the division having enjoyed year on year growth of 100% and anticipating revenue of $2 million for 2018.
IF IVO continues on this trajectory, we could see big things happen for it in the coming 12 months.
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